Here’s why renting in Singapore isn’t as expensive as you think

For many Singaporeans, renting isn’t an option. We can’t bear to spend a good fraction of our monthly salaries on paying rent… so most of us tend to live with our folks till we get married and move out (or amass enough savings to buy our own property). But here’s the thing: we’ve been seeing a weak rental market in Singapore for the past few years, and as it turns out, it actually isn’t all that expensive to rent an apartment in Singapore anymore.

More specifically, Singapore was once ranked 4th on ECA International’s list of most expensive location for rental accommodation in Asia – that was back in 2016. In 2017, we were bumped down to 7th place. This year, we’re ranked 8th, behind Hong Kong, Tokyo, Shanghai, Seoul, Mumbai, Beijing and Yokohama.

According to ECA International, rental prices for an unfurnished, mid-market, three-bedroom apartment in areas commonly inhabited by international executives in Singapore average US$4,337 per month – which is US$175 cheaper than it was last year. In comparison, you’ll need to fork out more than double that amount to rent a similar property in Hong Kong. For a 3-bedroom apartment, you can expect to pay roughly US$10,461 per month.

Thinking of renting an apartment in Singapore? Check out these affordable condo units for rent:

Krristy Lam on Tenancy Agreement and Security DepositHi An Shih, You can approach the Small Claims Tribunal to get it resolved. Read more about it here: https://www.99.co/blog/singapore/small-claims-tribunal-rental-disputes/